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Manufacturing finance: production investment support
News Release from: Japan Bank for International Cooperation | Subject: The Japan Bank for International Cooperation
Edited by the Manufacturingtalk Editorial
Team on 24 January 2003
Japanese bank supports Brazil's steel
industry
The Japan Bank for International Cooperation (JBIC) has signed loan agreements totalling US$39 million with Companhia Siderurgica de Tubarao (CST), which operates steel mills in Brazil.
JBIC supports Brazil's steel industry The Japan Bank for International Cooperation (JBIC) has signed loan agreements totalling US$39 million with Companhia Siderurgica de Tubarao (CST), which operates steel mills in the Federative Republic of Brazil This loan is cofinanced with BNP Paribas, Tokyo Branch
This article was originally published on Manufacturingtalk on 28 Jun 2002 at 8.00am (UK)
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Japanese bank supports Turkey's steel industry
The Japan Bank for International Cooperation (JBIC) has signed a loan agreement totalling US$14 million with Borcelik Celik Sanayii Ticaret AS, a steel mill in the Republic of Turkey.
JBIC will provide direct loans (buyer's credits) to CST, which is located in the Espirito Santo State, to financially support exports from Japan, including exporting the complete equipment for a steam power plant and a LD gas recovery system to CST.
The Japanese exporter is Marubeni Corporation and the domestic manufacturers are Mitsubishi Heavy Industries Ltd and Kawasaki Heavy Industries.
Most direct loans made by JBIC to Brazilian borrowers have the benefit of guarantees from the government of Brazil.
However, recently JBIC has begun to actively engage in loan commitments by examining the creditworthiness of the individual companies, and assessing their corporate risk.
This loan is the first extended to a Brazilian steel company based on a corporate risk-taking basis, in view of CST's position as the dominant steel exporter in Brazil.
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